Let's say I become content creator on social media like Youtube, Tiktok, start earning money, how should I register this business in Malaysia to avoid tax issues?

Do I need to give them my social media account/channel details? What types of contents I make?

Also do I need to register a business bank account to receive my money from Youtube/Tiktok/Twitter/etc?

If say monthly got 10-20K going into my bank account, surely cannot use personal bank account right? I suspect bank will freeze my account if it's not business account.

Right?

Lastly, can I still deduct tax as content creator? Since I also got expenditures to create contents, need to buy software, computer, hardware, hire people, etc.

Any advice? Tips?

can try ask company secretaries company for advise,

if you need tax examption, you need to be under some gomen policy like MSC status :X

Company secretaries?

You mean people who work as secretaries?

I don't mean exemption, I mean tax deduction for businesses.

1. Register a business entity with SSM
2. Open a business bank account with the registration from 1
3. Profit?

You can deduct all costs of doing business when you file your tax return if your business is an enterprise, in addition to your personal relief. The income from the business is counted like you have a secondary source of personal income (assuming you have a job and do this influenza thing on the side)

Thanks for advise.

Can I register online using EzBiz?

for the bank account, I need go to bank, cannot online right?

One last question, is it true that business bank account can transfer more money per month (internationally) and bank will not question you?

IF u working alone
register SSM as sole prop je, pay personal income tax lower tax than business
no need business account, just register current account with bank if worry on transaction issue

if u opening business + hire ppl, then maybe consider business
but then need separate business account n personal, spending also need to split out

Register as a media company.

If say sometimes I hire people to do video editing for my contents, but not as employee, just per project basis, like contractors, is this still consider sole prop?

Do I still need to give SSM my social media URL/Name details? Description of contents I make?



Not sure what this mean? Register my new sole prop bank account?

Because I think bank will ask question and freeze my personal account if more than rm10k profit transfer, right?

Get a proper professional to ask for.

Most of the provided answers = 50% correct.

Any recommendation? What type of pro?

Go to the company sec firm near you to ask. They do offer the consultation service; register; accounting, tax blah blah blah

Else, you can look for other forumers who offer this service.

This post has been edited by Sunshape: Jan 3 2025, 12:54 AM

Let's say I become content creator on social media like Youtube, Tiktok, start earning money, how should I register this business in Malaysia to avoid tax issues?
Registering as media company. You either run tax or, declare like the usual to have credit/loans from bank in the future.

Do I need to give them my social media account/channel details? What types of contents I make?
No. You only need filing your financial profit/loss for the LHDN to declare your payment

Also do I need to register a business bank account to receive my money from Youtube/Tiktok/Twitter/etc?
For any businesses you run in Malaysia, it is recommended to use business account. You can now apply for Maybank SME bank account online without going to branch, but not sure the requirement. I registered 6years ago at Maybank branch need to do company stamp chop for the bank, but not sure digital application how was the requirement. You can apply at here. https://www.maybank2u.com.my/home/m2u/common/signup.do

If say monthly got 10-20K going into my bank account, surely cannot use personal bank account right? I suspect bank will freeze my account if it's not business account.
If you're sole proprietor business entity, it doesnt matter the cash flow in PERSONAL or BUSINESS account, as long your finance sheet(Credit/Debit) are documented properly, declare your LHDN properly. No, bank will not freeze your account just because RM20k or RM30k deposit to your personal account. But it is recommended you to use business account for business, because it can be very messy when personal mixed with business, and easier to keep track which transaction going on with your businesses.

Lastly, can I still deduct tax as content creator? Since I also got expenditures to create contents, need to buy software, computer, hardware, hire people, etc.
Any advice? Tips?
Yes. For tax deduction section, please refer to your freelance bookkeeping guy for further info. Keep all your purchases receipt, can record as expenses, to lower tax bracket after profit.

Actually there is nothing difference with other industries.
Your question is more like, how to register as a proper/legit your first business company.

It doesnt matter with content creator, or you do education, trading, or marketing agency, everything is just the same when comes to registering and declaring LHDN.

This post has been edited by submergedx: Jan 3 2025, 07:50 AM

edited

This post has been edited by jack2: Jan 4 2025, 05:46 PM

What is a company sec firm? Sorry never heard of it, I am noob at business.

Wow, good info, thanks, but I have some questions.

Register as Sole proprietor media company? Right?

If I hire some people full time, then have to register as Sdn Bhd?

The SSM don't need my socmed details/URL, content description ka? (Not LHDN).

For personal account, I think Malaysia bank will block transfer over 10K (international, paypal, USD, etc), to prevent illegal things, right? People told me this is why I need a business account, that's why need register with SSM, else bank won't let me open biz account.

Secretarial firm who assists private limited and limited to do all secretarial related works. All private limited and limited co must have company secretary who holds the qualification from the Malaysian Institute of Chartered Secretaries and Administrators (MAICSA).

What is a company sec firm? Sorry never heard of it, I am noob at business.
We call it CO-SEC, usually you need special assistant or service, then you hire one be it freelance or permanent role.
Small company <200k revenue usually hire by service(freelance).

Wow, good info, thanks, but I have some questions.

Register as Sole proprietor media company? Right?
Yes. Start small. I got friend his clientele not yet stable then rush for SDN BHD, revenue tak sampai RM100k per annum but need to pay COSEC+Audit+SDN BHD registration annually for RM2k while Sole Prop only RM70 per year, you can DIY account yourself if you know how.

If I hire some people full time, then have to register as Sdn Bhd?
Depend on your revenue. Some say when revenue more than 300k/400k, it's suitable to switch from Sole Prop to Sdn Bhd, because lower tax bracket, SDN BHD has more perks when you managing the monies(tax deduction buying cars, etc), different responsibility.


The SSM don't need my socmed details/URL, content description ka? (Not LHDN).
SSM only need your business nature, business registration name. Channel or content description no need.

For personal account, I think Malaysia bank will block transfer over 10K (international, paypal, USD, etc), to prevent illegal things, right? People told me this is why I need a business account, that's why need register with SSM, else bank won't let me open biz account.
Not really lar. Depends on your bank security. If you're talking transfer WISE, PAYPAL to local banks, I dont think much issue because they already got deducted FOREX gain or transaction fee. Anyhow it's better to have business account for business transaction.

One more thing, If you're going to produce film/ads, you might want to register your business with FINAS or some others PUBLSIHING regulation bodies, something similar to Namewee's Production Company. If you're like Tai Choo Yee, he is more like Journalism/Media so need to apply with MCMC. But usually you start small, people dont bother it one lar, but for sure need to apply with regulators once your company grow big.

Wow, first time I heard this, many small biz I know don't have secretarial, they only have freelance accounting.

Is secretarial required by law?

For SDN BHD yes . U need and Sdn BHD else sure got alot thing cannot claim tax .
Ps u probably think that they are like Yr PA but in reality they are like a outsource third party part timer ( professional ) that help u Jaga few things only

This post has been edited by MrBaba: Jan 4 2025, 01:09 PM

Freelance co sec can help me with business registration and bank account things?

DIY for social media biz should not be hard, only revenue is from ads, patreon, member subscription, etc. I just put in full figure for tax declaration and deduct anything that LHDN allow for small biz. I think, haha.

As for the business account, many people told me some banks (like Maybank) will even block 5K from international transfer, then ask you question, very strict they say.

What if I produce social media only video and not shown on Malaysia TV/cinema? MCMC/Finas regulate social media video also ka?

One last interesting question:

Can I register a different business name compared to my socmed channel name?

Example: SSM Business name - Funny video Enterprise,

Socmed channel name - MrHaiwan123